Client’s challenge
Conquering the market. Considering that there are a plethora of software development companies in the market, the client required an approach that would make them stand FAR out from the crowd, fostering a lead generation process that couldn’t be replicated.
Solutions
- Incorporation of unique approach. To draw the attention of the client’s prospects, it took us some effort to evaluate and define the approach that would best suit the client’s goals. Since the target audience’s inboxes turned out to be spammed and fill with multiple related requests, we had to apply classical and non-standard approaches to cold email templates–unless we came up with an out-of-the-box solution (spoiler, we did).
- Expanding targeting industries and titles. Testing creative sets of templates brought us high open rates; however, the conversion was not as high as we hoped. Therefore, we expanded geolocation and ICPs allowing us to boost appointment-setting rates. Moreover, we utilized personalized case studies in the follow-up emails tailored to particular industries (IT services and consulting, education, retail, manufacturing) and titles, which resulted in a higher number of appointments.
Results
- In the first three months, we delivered 10 appointments (per month); the fourth month brought up to 20 appointments monthly.
- In four months, we managed to schedule 48 appointments, resulting in closing 5 deals (10% closing ratio).
- Cold email campaigns targeting midsize businesses brought a 40% open rate and a 7% reply rate.
Challenges Belkins encountered
- Competitive industry. Since the software development market is saturated and highly competitive, the lead generation process turned out to be quite lengthy. This was no problem as we were testing various templates. Despite the fact that in the first stage, we didn’t fulfill KPIs, our team eventually applied the right approach, allowing us to overexceed expected results in the long run.
- Target size. The client’s requirement was targeting entities consisting of 200–500 employees with over 200 million in revenue. We took it upon ourselves to test a variety of effective approaches until we found the one that almost guaranteed a reply and eventually helped us achieve the expected conversion rate.
